TEMENOS strengthens US team with two senior executive hires

GENEVA, Switzerland - 19 April, 2005, TEMENOS Group (SWX: TEMN), a provider of integrated core banking systems, today announced the appointment of Alex Groenendyk and Greg Green to the roles of president of the Americas and senior vice president of the Americas. Groenendyk and Green arrive at TEMENOS from Fiserv CBS Worldwide, a division of Fiserv, Inc., where they held the positions of president and chief operating officer respectively.

Groenendyk and Green will be based in TEMENOS’ Miami offices. TEMENOS Americas has offices in Miami, New York, Mexico and Ecuador. Its American client base has expanded to include Mellon Bank in Pittsburgh, Bank Boston, United Nations Federal Credit Union in New York, the Overseas Private Investment Corporation in Washington, and Bansefi in Mexico City.

During Groenendyk’s 13 years at Fiserv he successfully grew his division’s client base in both the international and American markets, with a particularly strong presence in the medium- to large- sized banking segments in North America. Groenendyk, 48, says: "For many years, core banking vendors have been building function on top of out-dated technology platforms. TEMENOS is arguably leading the industry by deploying the latest technology and system architecture for both the multi-platform Unix-based TEMENOS T24™ and the financial services data model-driven mainframe, TEMENOS CoreBanking™. The proof is in the incredible sales success and the high licence fees. I am very excited by the opportunity to help continue the momentum in the Americas."

Green, 45, has operated in the North American banking software market for much of his career. Prior to serving as the COO of Fiserv CBS Worldwide, he was president of CBS USA, with responsibility for both the outsourcing and licensing businesses. Green says: "I have come to realise that the more traditional software suppliers will have to significantly evolve and invest in their existing technologies and products over the next few years in order to remain competitive. I believe the TEMENOS core banking solutions offer a fresh approach to solving these challenges. TEMENOS has the right technological foundation to succeed in these markets today and well into the future."

Andreas Andreades, CEO, TEMENOS, says: "This is a major step for TEMENOS and will help us to significantly drive our American efforts forward. Alex and Greg make a very strong team with the market knowledge to significantly accelerate our revenues and position in the region."

TEMENOS consistently ranks among the leading core banking providers, and has appeared in the top two positions of the International Banking Systems sales league table for six of the last seven years. In 2004, TEMENOS was ranked the international leader in terms of licensing, with an average deal size of more than double the market average.

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